CSI 300: Support moved up 4160

A brief analysis of the fundamentals:

On Thursday (August 11), A-shares rose unilaterally. The CSI 300 Index, supported by financial and technology stocks, hit a high of 4,165. The risk appetite increased significantly. The turnover exceeded one trillion, and the net purchase of funds from the north was 13 billion. Looking forward to the market outlook, since the beginning of July, the market has entered a typical adjustment cycle. Under the support of fundamentals, the trend of market fluctuations has not changed.

CSI 300 one-hour chart

Technical brief:

Looking at the 1-hour chart, the CSI 300 has broken through 4120-4160 one after another, and the bulls have shown strong performance. At the same time, the MACD can be sharply enlarged above the zero axis, showing that the short-term bullish kinetic energy is strong. The current support has moved up to 4160, which is above this level. Bounce 4250-4300

Long and short turning point: 4160

Resistance: 4250.00 4300.00

Support: 4160.00 4120.00

Trading strategy: bullish above 4160.00, target 4250.00 4300.00

Alternative strategy: bearish below 4160.00, target 41200.00 4050.00